Commercial State Bank has proudly served the Monroe County community for over 120 years. It is our goal to continue to offer the same quality services that our customers expect from the larger metropolitan financial institutions while remaining their neighborhood community bank.
Commercial State Bank of Waterloo was organized in 1882. Originally founded as a Co-Partnership by the name of H. Kuenster and Company, it later was changed to the Commercial Bank. It was the first organized bank of Monroe County, Illinois. Original co-partners were: William Erd, Hubert Kuenster, Christian Jobusch, Joseph W. Rickert and William Bode.
On July 1, 1920, the State of Illinois abolished private banks and the co-partners of the Commercial Bank were granted a charter as a State Bank under the banking laws of the State of Illinois. Joseph W. Rickert, one of the original co-partners, and the first bank president, lived to age 102. He was the bank president for over 50 years and served as nominal Governor of Illinois during 1891.
On February 21, 1989, Commercial State Bank of Waterloo formed a one-bank holding company known as Waterloo Bancshares, Inc. The stockholders on record at the time of the merger traded their bank stock 1 for 1 and became stockholders of the holding company. Waterloo Bancshares, Inc. is the sole owner of Commercial State Bank of Waterloo.
The bank was originally housed on Mill Street. On April 3, 1930, the bank dedicated it's new bank building on the corner of Main and Mill Streets, across from the Courthouse Square. A drive-up facility was added to this building in 1979, and in 1988 a new addition was completed. Also in 1988, the second bank location was dedicated with the bank's first ATM installed. In May, 1998, Commercial State Bank was proud to hold the Grand Opening Ceremony and Customer Appreciation Day at the bank's third location, 812 North Market, Waterloo, Illinois. In October 1998 we opened our fourth location, 130 S. Main, Hecker, Illinois. A fifth location was added in November 2000 at 514 S. Main, Smithton, Illinois. In August 2004 another addition was made to Commercial State Bank with the opening of our sixth location at 500 N. State Street, Freeburg, Illinois.